Turkey Regulator Demands Bank Asya Information Before Sukuks (1)

Bank Asya
Bank Asya


Date posted: April 25, 2014

ISTANBUL

Asya Katilim Bankasi AS (ASYAB), the Turkish lender in partnership talks with Qatar Islamic Bank, must ask the regulator for permission to issue further sukuk under a 1.25 billion-lira ($587 million) debt program.

Turkey’s Capital Markets Board has asked to be informed of future issues, Cengiz Onder, head of investor relations at Bank Asya, said in a phone interview today from Istanbul. An official at the board, asking not to be named under government policy, said it’s seeking further documentation from Bank Asya before sales can resume, without giving further comment.

The lender is a member of the Tuskon business group, representing companies whose executives sympathize with U.S.- based cleric Fethullah Gulen. Prime Minister Recep Tayyip Erdogan says Gulen’s followers are behind corruption allegations from December. Turkish newspaper Sabah reported today that the Capital Markets Board has stopped Bank Asya from issuing sukuk debt, without saying where it got the information.

Bank Asya has sold 550 million liras in sukuk debt in small amounts with short maturities, and the Sabah story was based on false “speculation” that it was being blocked from issuing more, Onder said. The bank’s core focus will be on attracting deposits, he said.

In the six weeks after the corruption allegations became public, Bank Asya fell more than any other company on the benchmark XU100 index. The bank’s share price then climbed the most in 6 years after news of talks with QIB emerged last month.

Source: Bloomberg , April 24, 2014


Related News

Fethullah Gülen: Even democracy needs a metaphysical dimension

Rainer Hermann There is no obstacle to democracy in Islam, says Fethullah Gulen. However, even democracy needs a metaphysical dimension. As there are Christian, Jewish and Buddhist democrats, there could also be Muslim democrats. Western World is disputing with Islam. Muslims also have some responsibility for this attitude: the Taliban is practicing the ‘stoning sentence’ […]

Gulen – Erdogan History in 2 minutes

Nowadays, most articles about Turkey, Erdogan and Gulen have a default sentence: “Erdogan and Gulen were former allies”. It is said and written so many times that eventually became a fact. However, the reality is not that simple.

OSCE: Excessive penalties threaten journalism in Turkey

Dunja Mijatovic, the Organization for Security and Cooperation in Europe (OSCE) representative on freedom of the media, has said excessive penalties against journalists may threaten investigative journalism and freedom of speech in Turkey. Mijatovic spoke against an investigation targeting Taraf journalist Mehmet Baransu for reporting on a confidential National Security Council (MGK) document that mentioned a planned crackdown on faith-based groups in Turkey.

Gülen’s Statement of Condemnation for Terrorist Attack Against the Coptic Christian Community in Egypt

I have learned with grief about the horrific terrorist attack against two Coptic churches in Egypt during a Palm Sunday mass, killing at least 43 worshipers and police officers. I vehemently condemn this atrocity against the Coptic Christian community.

Father Alexei on Fethullah Gulen and Hizmet Movement

Father Alexei Smith served as an elected member of the Council of Priests of the Archdiocese of Los Angeles for six years, and currently is a member of the Spirituality Commission of the Archdiocese. He served as president of the Interreligious Council of Southern California for five years. In 2007, he awarded the prestigious Religious Leadership Award of the Valley Interfaith Council.

Turkey Bars Entry Of Critics By Adding Their Names Next To ISIL Suspects

Turkey has been arbitrarily refusing the entry for foreign nationals of Turkish origin who are deemed critical of the country’s autocratic President Recep Tayyip Erdoğan and his government, citing the national security risks.

Latest News

Turkish inmate jailed over alleged Gülen links dies of heart attack in prison

Message of Condemnation and Condolences for Mass Shooting at Bondi Beach, Sydney

Media executive Hidayet Karaca marks 11th year in prison over alleged links to Gülen movement

ECtHR faults Turkey for convictions of 2,420 applicants over Gülen links in follow-up to 2023 judgment

New Book Exposes Erdoğan’s “Civil Death Project” Targeting the Hizmet Movement

European Human Rights Treaty Faces Legal And Political Tests

ECtHR rejects Turkey’s appeal, clearing path for retrials in Gülen-linked cases

Erdoğan’s Civil Death Project’ : The ‘politicide’ spanning more than a decade

Fethullah Gülen’s Vision and the Purpose of Hizmet

In Case You Missed It

KYM donates blankets and clothing to children in Gaza

Interview with Henri Barkey on the Hizmet Movement

It is unfair, unjust and politically motivated to incriminate the Gulen Movement

Erdogan’s Hate Speech against the Gulen Movement

Why Gulen-sympathizers with their babies risk death to flee Erdogan regime

German state minister: Persecuted Turks can apply for asylum in Germany

‘Fethullah Gülen and Today’s World’ to be a reference book in Eurasia

Copyright 2026 Hizmet News